Asian companies lead IPOs in US
NEW YORK - Le Gaga Holdings Ltd, the Hong Kong-based greenhouse vegetable producer, raised $103 million in an initial public offering (IPO) at the end of last month, as Asian companies led the busiest month for US IPOs in almost three years.
Stocks in the seller of produce to supermarkets in Hong Kong and mainland jumped 19 percent on Friday after pricing its US depositary receipts at $9.50 each, the top end of its forecast range, according to data compiled by Bloomberg. A total of 21 companies sold shares through IPOs in October, the most since 22 initial sales in December 2007, according to the data.
Companies in Asia, the world's fastest growing region, have recorded six of the 10 largest gains among IPOs in the United States this year. ChinaCache International Holdings Ltd, the Beijing-based provider of Internet content to businesses, this month had the biggest first-day rally for a New York listing in three years.
